Arab Academy of Science and Technology Honored for Entrepreneurship And Broad PSoC® Deployment in the Middle East

SAN JOSE, Calif., July 9, 2010 – Cypress Semiconductor Corp. (Nasdaq: CY) and BG Partners today announced that a team from the Arab Academy of Science and Technology (AAST, Cairo-Alexandria, Egypt) is the winner of the third annual Professor E.I. Tochitsky Fellowship Award. Professor Khaled A. Shehata’s group from the AAST Electronics and Communications Department led a widespread Middle East deployment of Cypress’s PSoC® programmable system-on-chip platform.

There are three main components of the Fellowship: the opportunity to work with BG Partners to create a business plan for an innovative product, an interview with Cypress concerning a potential internship, and a student financial award.

“We’ve immediately recognized the uniqueness, flexibility and many other advantages of the PSoC technology platform," said Professor Shehata. “My students are very interested – next we will teach them PSoC 3 and PSoC 5.”

“It has been a privilege to introduce the PSoC technology platform into Egypt and the broader Middle East with its unique entrepreneurial and long-term investment culture,” said Dr. Victor V. Boksha, Managing Director of BG Partners. “Very quickly we’ve developed a “meeting of minds” with Professor Shehata - the whole project benefited enormously from his extraordinary abilities as a top teacher and resourceful entrepreneur. We see the Middle East investing serious resources in technology. By leveraging deep local know-how, we’re now focusing on the joint development of distributed energy solutions closely coupled with building-integrated photovoltaics based on the PSoC platform.”

"We are very impressed with the support and initiative from Professor Shehata and the AAST team,” said Patrick Kane, director of the Cypress University Alliance. “Professor Shehata has exceptional students – we’ve gotten excellent feedback from Cypress managers after the completion of an internship program. We appreciate all the efforts of BG Partners as we jointly continue to expand the reach of PSoC through the Middle East.”

BG Partners Group, Cypress University Alliance, and Professor E.I. Tochitsky’s family established the fellowship in 2007 to recognize and support outstanding student-professor entrepreneurial efforts. The fellowship is open to other industrial and investment groups to participate in also. Founded in memory of Professor Eduard Ivanovich Tochitsky (1935-2007), a remarkable business and technology leader, the fellowship initially supported young entrepreneurial talent from Belarus – the native country of Professor Tochitsky. Works from the Middle East, Russia, Ukraine, Kazakhstan, Norway, and Singapore are also considered. The 2008 Award went to Professor Igor E. Zuikov’s group at Belarus National Technical University. The 2007 Award went to Professor Victor F. Zavortony’s group at Ukraine National Technical University – the Winner of the 2008 Cypress PSoC Challenge.

About BG PartnersBG Partners is recognized as one of the top venture capital groups focusing on the Middle East and US and stressing the need and the tremendous potential for the next-generation of clean green-tech and medical applications based on semiconductor platforms. BG Partners is headquartered in Silicon Valley (California) and has partners world-wide.

About the Cypress University AllianceCypress's University Alliance Program is a multifaceted program empowering electronics engineering and computer science students to develop the skill sets needed to perform in today's marketplace. The program mounts regional design competitions, offers academic workshops, and maintains a university alliance website (www.cypress.com/cua) which provides access to myriad free design resources, evaluation boards and online courses.

About CypressCypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC® programmable system-on-chip families and derivatives such as PowerPSoC® solutions for high-voltage and LED lighting applications, CapSense® touch sensing and TrueTouch™ solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge® solution that enhances connectivity and performance in multimedia handsets. Cypress is also a leader in high-performance memories and programmable timing devices. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial and military. Cypress trades on the Nasdaq Global Select Market under the ticker symbol CY. Visit Cypress online at www.cypress.com.

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Cypress, the Cypress logo, PSoC, PowerPSoC, CapSense and West Bridge are registered trademarks and TrueTouch is a trademark of Cypress Semiconductor Corp. All other trademarks are property of their owners.